Uzbekistan and South Korea hold business forum in Tashkent

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TASHKENT (TCA) — A business forum of Uzbekistan and South Korea was held in Tashkent on March 7 within the framework of the visit of a delegation led by the Honorary Consul of the Embassy of Uzbekistan in the Republic of Korea, CEO of Evergreen Motors Kim Chang-keon, the Jahon information agency reported.

More than 300 representatives of ministries and departments, companies of the two countries responsible for such spheres as economy, investment, trade and industry, tourism, construction, logistics, engineering, ICT, energy, electrical engineering, agriculture, food, chemical and light industry, and healthcare took part in the event organized by the Chamber of Commerce and Industry in cooperation with the Union of Youth of Uzbekistan and Tashkent City Administration.

The state visit of the President of Uzbekistan Shavkat Mirziyoyev to the Republic of Korea in November 2017, as well as intensification of contacts at various levels, opened a new page in the development of bilateral relations.

At the business forum, Chairman of the Chamber of Commerce and Industry of Uzbekistan Adham Ikramov and Ambassador of the Republic of Korea to Uzbekistan Kwon Yong-woo emphasized that thanks to the agreements reached during the meetings of the heads of the two states, the trade, economic and investment cooperation of Uzbekistan and South Korea has risen to a new level.

Today, there are more than 460 enterprises with participation of South Korean capital and 75 representative offices of Korean companies in Uzbekistan. The total volume of South Korean investments in the economy of Uzbekistan exceeds $7 billion. Uzbekistan accounts for the largest part of the trade turnover between South Korea and countries of Central Asia.

During the forum the Korean guests were informed about the conditions created for investors in Uzbekistan, in particular, the opportunities for free economic and small industrial zones, tax and customs privileges and preferences.

“Uzbekistan is an important trade partner of South Korea in Central Asia,” said Kim Chang-keon, CEO of Evergreen Motors. “Our mutually beneficial cooperation in trade, industry, tourism, as well as in the sphere of production of building materials, electrical engineering and many other areas is further developing and strengthening. Within the framework of the forum, we discussed prospects for cooperation in the assembly of spare parts for Hyundai cars and processing of natural resources.”

Within the framework of the forum, business to business meetings and negotiations were also held.

Sergey Kwan

TCA